Renovated Residential Income
For Sale
$349,900
915 E STREET NW Unit 1202, Washington, DC 20004
Twelfth-floor residence with private balcony, storage unit, and access to fitness, lounge, and concierge amenities.
Property Size666 SF
Days on Market14
Property Features for 915 E STREET NW Unit 1202
General Information
Standard status
Active
Size
666 SF
Property subtype
Penthouse Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,572
Building Details
Building Size
666 SF
Year Built
2006
Listing Agency:
Coldwell Banker Realty - Washington
Listed By:
Jason R Secrest · License #BR200200548
(703) 650-9436
Source:
Kwcapitalproperties
Added: Sep 2
Changed: Sep 8
Last Checked: Sep 14 at 9:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Washington
Investment Insights
Based on property information with market context.
This residential income property is a renovated twelfth-floor condominium with a one-bedroom, one-bath layout. The interior includes an open living arrangement, a sizable kitchen, a dedicated bedroom with closet space, and an updated bathroom. A private balcony adds outdoor space and city views, while a separately deeded storage unit provides additional ownership utility.
The Artisan was built in 2006 and offers a fitness center, resident lounge, and on-site concierge. Gas, water, and trash are included in the condominium dues. The property is near Capitol One Arena, Chinatown, and two Metro lines in downtown Washington, DC.
The Artisan was built in 2006 and offers a fitness center, resident lounge, and on-site concierge. Gas, water, and trash are included in the condominium dues. The property is near Capitol One Arena, Chinatown, and two Metro lines in downtown Washington, DC.
Key Highlights
- Renovated twelfth‑floor condominium with 1 bedroom and 1 bathroom
- Private balcony with city views
- Separately deeded storage unit included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,066
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$221,320
$221.3K
Cap Rate 7%
$158,086
$158.1K
Cap Rate 9%
$122,956
$123.0K
Market Conditions
NOI Build-Up for 666 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.2K $31.80/SF
− Vacancy
−$1.1K −$1.59/SF
EGI
$20.1K $30.21/SF
− OpEx
−$9.1K −$13.59/SF
NOI
$11.1K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$221,320
Cap Rate 7%
$158,086
Cap Rate 9%
$122,956
Alternative Uses
Best Use
Apartment 5plus
$158.1K
$138.3K – $184.4K
NOI $11,066 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$342.6K
$299.8K – $399.7K
NOI $23,980 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10,953
Businesses Nearby
Explore this area
Business Placement
Demographics for 20004, DC
1,682
Population
1,593
Households
1.1
Avg Household Size
40
Median Age
95%
College-Educated
100%
High-School Grad
0.2 sq mi
ZIP Area
8,410
Density / Sq Mi
$161,359
Median Household Income
$133,857
Median Earnings
$2,945
Median Rent
$650,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Twelfth-floor residence with private balcony, storage unit, and access to fitness, lounge, and concierge amenities.
Where is this residential income property located?
The property is located at 915 E STREET NW Unit 1202 Washington, DC.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Renovated twelfth‑floor condominium with 1 bedroom and 1 bathroom; Private balcony with city views; Separately deeded storage unit included
